InterDigital (IDCC) PT Lowered to $94.00

InterDigital (NASDAQ:IDCC) had its price target reduced by B. Riley from $100.00 to $94.00 in a research note issued to investors on Friday. The brokerage currently has a “buy” rating on the Wireless communications provider’s stock. B. Riley’s price objective suggests a potential upside of 24.17% from the stock’s previous close. B. Riley also issued estimates for InterDigital’s Q1 2018 earnings at $0.28 EPS, Q2 2018 earnings at $0.28 EPS, Q3 2018 earnings at $0.49 EPS, Q4 2018 earnings at $0.57 EPS, FY2018 earnings at $1.62 EPS, Q1 2019 earnings at $0.44 EPS, Q3 2019 earnings at $0.57 EPS and Q4 2019 earnings at $0.64 EPS.

Several other research analysts have also issued reports on IDCC. Zacks Investment Research raised shares of InterDigital from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a research note on Wednesday, November 1st. ValuEngine raised shares of InterDigital from a “hold” rating to a “buy” rating in a research note on Thursday, November 16th. Finally, BidaskClub raised shares of InterDigital from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. InterDigital presently has a consensus rating of “Hold” and an average target price of $91.33.

InterDigital (NASDAQ IDCC) opened at $75.70 on Friday. The stock has a market cap of $2,621.26, a price-to-earnings ratio of 15.54 and a beta of 0.94. InterDigital has a 12 month low of $67.55 and a 12 month high of $93.00. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.22 and a current ratio of 3.71.

InterDigital (NASDAQ:IDCC) last issued its earnings results on Thursday, February 22nd. The Wireless communications provider reported $2.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $1.60. The business had revenue of $205.30 million for the quarter, compared to analyst estimates of $191.42 million. InterDigital had a net margin of 32.70% and a return on equity of 26.52%. InterDigital’s revenue was down 25.0% on a year-over-year basis. During the same period in the prior year, the firm earned $3.85 earnings per share. analysts predict that InterDigital will post 1.66 EPS for the current year.

In other InterDigital news, EVP Scott A. Mcquilkin sold 500 shares of the firm’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $76.50, for a total value of $38,250.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP James J. Nolan sold 5,020 shares of the firm’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $75.00, for a total transaction of $376,500.00. Following the completion of the transaction, the executive vice president now directly owns 49,063 shares in the company, valued at $3,679,725. The disclosure for this sale can be found here. Insiders sold 6,020 shares of company stock worth $453,000 over the last ninety days. Insiders own 1.90% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in IDCC. Cerebellum GP LLC purchased a new stake in shares of InterDigital in the fourth quarter valued at about $127,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of InterDigital by 57.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,815 shares of the Wireless communications provider’s stock valued at $138,000 after purchasing an additional 664 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of InterDigital by 107.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,182 shares of the Wireless communications provider’s stock valued at $160,000 after purchasing an additional 1,129 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of InterDigital by 52.2% in the third quarter. Victory Capital Management Inc. now owns 2,459 shares of the Wireless communications provider’s stock valued at $181,000 after purchasing an additional 843 shares during the last quarter. Finally, Oakbrook Investments LLC purchased a new stake in shares of InterDigital in the fourth quarter valued at about $202,000. 71.62% of the stock is currently owned by hedge funds and other institutional investors.

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InterDigital Company Profile

InterDigital, Inc designs and develops technologies for wireless communications. The Company is focused on three technology areas: cellular wireless technology, Internet of things (IoT) technology, and, through its Hillcrest Laboratories, Inc (Hillcrest Labs) subsidiary, sensor and sensor fusion technology.

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